A Statement of Revenues, Expenses, and Changes in Fund Net

question 21

Multiple Choice

A Statement of Revenues, Expenses, and Changes in Fund Net Assets should include which of the following in addition to operating revenues and operating expenses and ending Net Assets?

• A)Nonoperating revenues and expenses.
• B)Nonoperating revenues and expenses, and Other changes in Net Assets.
• C)Nonoperating revenues and expenses, Capital Contribution and Other changes in Net Assets, and Beginning Net Assets.
• D)None of the above.

---

Definitions:

Natural Zero

A value that inherently indicates the absence of a quantity or phenomenon, e.g., zero apples mean there are no apples.

Ratio Data

A type of quantitative data that not only allows for comparison of amounts but also involves a natural zero point, allowing for statements of multiplicity.

Material Costs

The expenses incurred for materials that are directly used in the production of goods or services.

Specified Characteristics

Detailed attributes or features that are identified as requirements or standards for a particular object, process, or service.